What are the key indicators to watch for when trading XAU/USD on tradingview?

1 answers

• Nov 24, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends traders to focus on the support and resistance levels when trading XAU/USD on tradingview. These levels can act as barriers to price movement and provide potential entry or exit points. Traders can use tools like horizontal lines or Fibonacci retracement levels to identify these levels on the trading chart. It's important to pay attention to how price reacts when it reaches these levels, as a breakout or a bounce can provide valuable trading opportunities. Additionally, keeping an eye on the overall market sentiment and the US dollar index can also help in understanding the broader market dynamics and making more informed trading decisions.
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